Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced fiscal second quarter 2013 results.
Total revenues for the second quarter ended June 27, 2013 were $842.3 million compared to total revenues of $723.3 million for the second quarter ended June 28, 2012. Net income attributable to controlling interest in the second quarter of 2013, which included a $19.4 million after-tax loss on extinguishment of debt, was $36.1 million compared to $37.2 million in the second quarter of 2012. Diluted earnings per share was $0.23 for the second quarter of 2013 compared to $0.24 for the second quarter of 2012. Adjusted diluted earnings per share (1) was $0.36 for the second quarter of 2013 compared to $0.25 for the second quarter of 2012. Adjusted EBITDA (3) was $178.2 million for the second quarter of 2013 and $138.8 million for the second quarter of 2012. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release.
Regal’s Board of Directors also today declared a cash dividend of $0.21 per Class A and Class B common share, payable on September 17, 2013, to stockholders of record on September 9, 2013. The Company intends to pay a regular quarterly dividend for the foreseeable future at the discretion of the Board of Directors depending on available cash, anticipated cash needs, overall financial condition, loan agreement restrictions, future prospects for earnings and cash flows as well as other relevant factors.
“We are pleased to report that a healthy second quarter box office environment combined with the successful integration of our recent acquisitions enabled us to achieve all-time quarterly records in admissions revenue, total revenues and Adjusted EBITDA,” stated Amy Miles, CEO of Regal Entertainment Group. “We are also encouraged by the early third quarter box office results and remain optimistic about the prospects for the remainder of the year.”
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